SBICAP Securities has maintained its Buy rating on Jindal Steel - Power in the long term with a target price of Rs 225.
The stock closed at Rs 179, up 1.9% on Monday while the BSE Sensex closed 416.46 points (0.99%) down at 41,528.91.Company FinancialsFor the quarter ended 31-12-2019, the company has reported consolidated sales of Rs 9299.78 crore.
The company has reported net profit after tax of Rs -218.57 crore in the latest quarter.
The companys top management includes Mr.Anjan Barua, Mrs.Shallu Jindal, Mrs.Savitri Jindal, Mr.Sudershan K Garg, Mr.S Annadurai, Mr.Ravikant Uppal, Mr.Ram Vinay Shahi, Mr.Rajeev Bhadauria, Mr.Naveen Jindal, Mr.Hardip Singh Wirk, Mr.Dinesh Kumar Saraogi, Mr.Arun Kumar Purwar, Mr.Arun Kumar, Mrs.V C Mirunalini.
Company has Lodha - Co.
as its auditors.
As on 31-12-2019, the company has a total of 1,020,015,971 shares outstanding.
Investment RationaleSBI Caps said global and domestic steel prices have surged since November 2019 on improving prospects of demand globally and domestically which is expected to help Jindal.
The company has also showcased its ability to strengthen its balance sheet by reducing debt and it continues to be on a deleveraging path driven by the volume ramp-up.